Christmas is approaching and it’s the time of the year when many businesses want to show how much they appreciate their staff.
However due to COVID-19 restrictions, this year’s celebrations will be very different with gatherings dependent on the size of the venue and group bookings capped.
We highlight the tax and fringe benefits tax (FBT) implications of holding a Christmas party on or off the business premises and also providing staff with Christmas gifts. The article highlights the income tax and fringe benefits tax (FBT) implications of holding a Christmas party on or off the business premises and also the tax effectiveness of providing staff with non-entertainment and entertainment type gifts.
The Tax and FBT Issues with Christmas Parties and Staff Gifts
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